UNH Options History — July 2013

In July 2013, UNH traded between $65.27 and $72.85. ATM implied volatility averaged 20.2%, placing in the 17.1% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded below realized volatility by 2.1% (HV 20d: 22.4%). Max pain ranged from $65.00 to $67.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 15 of 22 days. Put/call ratio averaged 1.09.

Notable Days

2013-07-18: Highest Volume — 25,985 contracts
2013-07-18: Largest IV drop — 23.4% change
2013-07-10: Highest IV Rank — 25.7%
2013-07-03: Largest Expected Move — 6.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$69.32	$65.27	$72.85	$65.63	$72.85
Max Pain	$65.80	$65.00	$67.50	$65.00	$67.50
ATM IV	20.2%	17.4%	25.2%	20.2%	22.0%
Expected Move	5.8%	5.0%	6.6%	6.5%	5.4%
HV 20d	22.4%	18.2%	28.9%	18.9%	25.5%
HV 60d	21.3%	18.7%	22.5%	21.0%	22.1%
IV Rank	17.1%	12.2%	25.7%	17.0%	20.2%
IV Percentile	41.3%	10.7%	85.3%	38.9%	66.3%
Term Structure	0.4%	-0.8%	1.4%	-0.3%	1.0%
VWIV	20.7%	18.3%	24.7%	22.9%	19.5%
Skew 25d	2.9%	2.3%	3.6%	3.1%	2.4%
Skew 10d	6.4%	4.2%	8.7%	6.8%	5.6%
Call IV 25d	19.2%	16.6%	21.6%	21.2%	17.9%
Put IV 25d	22.1%	18.9%	25.0%	24.3%	20.3%
Bid-Ask Spread %	7.54	4.66	12.17	8.17	7.96
Gamma HHI	0.19	0.15	0.27	0.24	0.16
Net GEX	12.2M	8.4M	15.3M	11.8M	13.1M
Net DEX	-510.7M	-659.5M	-319.5M	-339.8M	-650.0M
Net VEX	-1.9M	-2.0M	-1.7M	-2.0M	-1.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.09	0.23	2.31	1.53	0.82
Total Volume	8,510.273	1,451	25,985	4,131	4,036
Total OI	198,338	179,184	219,602	179,184	206,917

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2013-07-01	$65.63	$65.00	20.2%	6.5%	18.9%	17.0%	22.9%	3.1%	-0.3%	11.8M	-339.8M	-2.0M	1.53	8.17	1,631	2,500	110,716	68,468
2013-07-02	$65.27	$65.00	18.8%	6.4%	18.8%	14.5%	22.5%	3.2%	-0.1%	11.1M	-319.5M	-2.0M	0.57	4.66	1,779	1,019	110,466	69,607
2013-07-03	$65.54	$65.00	19.4%	6.6%	18.2%	15.6%	24.7%	3.4%	-0.8%	11.6M	-334.5M	-2.0M	2.31	9.89	1,812	4,187	111,537	69,822
2013-07-05	$66.17	$65.00	20.0%	6.4%	18.4%	16.6%	22.5%	3.6%	0.1%	11.5M	-361.9M	-2.0M	1.66	7.31	545	906	112,316	72,866
2013-07-08	$67.56	$65.00	20.6%	6.1%	19.3%	17.7%	22.4%	3.5%	0.3%	11.7M	-426.8M	-1.9M	0.64	9.29	7,580	4,864	112,140	72,657
2013-07-09	$67.97	$65.00	21.5%	6.2%	18.6%	19.3%	21.4%	3.1%	0.1%	11.9M	-455.8M	-1.9M	0.23	7.33	9,202	2,075	115,691	75,219
2013-07-10	$67.69	$65.00	25.2%	6.2%	18.8%	25.7%	21.5%	3.1%	0.3%	12.6M	-473.4M	-2.0M	1.17	7.86	2,116	2,471	122,146	76,045
2013-07-11	$68.36	$65.00	21.1%	6.0%	18.9%	18.5%	20.5%	2.8%	0.1%	12.8M	-498.9M	-1.9M	0.39	9.38	3,777	1,470	120,290	76,709
2013-07-12	$68.00	$65.00	21.2%	6.1%	19.1%	18.7%	20.4%	3.4%	-0.0%	13.0M	-479.0M	-2.0M	1.36	7.75	3,741	5,099	122,049	77,282
2013-07-15	$67.62	$65.00	21.6%	6.2%	19.1%	19.5%	22.6%	3.5%	-0.3%	13.0M	-455.7M	-2.0M	2.09	7.36	5,329	11,128	123,744	78,359
2013-07-16	$66.91	$65.00	22.1%	6.3%	19.5%	20.2%	22.2%	3.5%	-0.7%	9.6M	-399.9M	-2.0M	1.44	10.25	2,614	3,755	125,143	86,660
2013-07-17	$66.23	$65.00	22.8%	6.5%	18.7%	21.4%	22.4%	3.4%	-0.8%	8.4M	-355.3M	-2.0M	1.72	12.17	8,214	14,133	125,689	87,628
2013-07-18	$70.55	$65.00	17.4%	5.0%	28.9%	12.2%	18.3%	2.4%	1.3%	15.3M	-622.0M	-1.7M	0.57	5.43	16,515	9,470	124,802	88,110
2013-07-19	$71.45	$65.00	17.8%	5.1%	27.3%	12.8%	18.8%	2.5%	1.2%	12.4M	-659.5M	-1.8M	0.49	5.86	11,236	5,454	128,310	91,292
2013-07-22	$72.18	$65.00	18.1%	5.2%	27.3%	13.4%	18.9%	2.3%	1.1%	12.2M	-614.4M	-1.7M	0.98	7.37	4,553	4,480	119,348	72,190
2013-07-23	$72.69	$67.50	18.1%	5.2%	27.2%	13.3%	18.4%	2.3%	0.9%	12.1M	-629.4M	-1.7M	0.97	6.23	2,732	2,661	120,707	73,924
2013-07-24	$72.53	$67.50	18.3%	5.2%	26.3%	13.6%	18.6%	2.4%	1.0%	11.9M	-621.4M	-1.7M	0.25	5.95	7,651	1,878	121,094	75,229
2013-07-25	$72.62	$67.50	18.0%	5.1%	26.1%	13.1%	18.7%	2.5%	1.4%	14.0M	-641.3M	-1.8M	1.09	4.97	1,743	1,893	127,150	76,072
2013-07-26	$72.21	$67.50	18.1%	5.3%	25.9%	13.3%	19.1%	2.5%	1.2%	13.2M	-622.4M	-1.8M	1.76	6.67	1,769	3,106	127,909	76,616
2013-07-29	$72.79	$67.50	21.5%	5.4%	25.4%	19.2%	19.6%	2.4%	0.9%	12.9M	-648.1M	-1.7M	0.62	6.17	2,044	1,262	127,433	77,226
2013-07-30	$72.27	$67.50	21.8%	5.3%	25.7%	19.7%	18.8%	2.4%	1.2%	12.9M	-625.5M	-1.8M	1.25	7.97	1,241	1,555	127,902	77,956
2013-07-31	$72.85	$67.50	22.0%	5.4%	25.5%	20.2%	19.5%	2.4%	1.0%	13.1M	-650.0M	-1.7M	0.82	7.96	2,220	1,816	128,436	78,481